Choosing your mortgage

Choosing your mortgage

For most people, getting a mortgage is the first step to living in your new home.  This is an exciting time, but with so many different mortgages available, it’s important to find the right one for you as it could end up saving you money in the long run. 

Before looking at the different mortgage deals on the market, you need to assess your financial situation to find out what you need from your mortgage.  You should draw up a monthly income and expenditure budget – which takes into account monthly household bills for utilities, food and of course your leisure and pleasure activities, then setting that against your income you should be able to work out how much you can afford on your monthly mortgage payments. There are decisions to make about paying back your mortgage – whether you want to pay back the capital and interest, or would prefer an interest-only mortgage (if you can find one that you are eligible for).  You also need to consider whether your circumstances may change from month to month and whether you may need a more flexible mortgage.  With all this information to hand, plus whatever you have managed to save for a deposit, a mortgage adviser will be able to help you find the right kind of mortgage for you.

Whether you are buying your first home, building your own house, or purchasing business premises, getting help from a mortgage adviser is vital to make sure you find the right mortgage deal for your situation. Find a mortgage adviser in your local area.

Questions you might like to a mortgage adviser…

  • What mortgage would be most suitable for me?
  • Am I eligible for an interest-only mortgage?
  • How much will I need to save for a deposit?

You should also consider

How to find the right mortgage adviser

Take a look at our tips on finding the right mortgage adviser for you

How to pay for mortgage advice

Read our guide to find out about the different ways you can pay for mortgage advice

Questions to ask a mortgage adviser

Take a look at our list of useful questions to ask a mortgage adviser